In London this week. The trip as part of a series of events, with Praetura. Praetura Group is the Manchester based financial services company specializing in lending and equity solutions for startups and SMEs. Dave Foreman MD, one of the founder members was presenting, a number of invested companies formed part of a fascinating panel. I opened the session with a thirty minute round up of the UK and World Economy. Lot of discussion about inflation and interest rates especially in view of the "Bond Market Mayhem" in the U.S. this week, but more on that later. Our trip did not get off to a great start.
Traveling from Lancaster to London, the scheduled train was cancelled. The next available train was overcrowded. The train eventually arrived in Euston, thirty minutes late. We were held up in Warrington station. Someone pulled the emergency cord. The pressure of the trip from Glasgow, too much perhaps. One guy just couldn't take any more. For him, the remainder of the trip to London was scrapped.
Rishi Sunak's speech in Manchester came to mind. He had done a lot of scrapping this week, including HS2. News of the Sam Bankman-Fried trial filtered through, the FTX boss had stolen over $10 billion in an "Empire Built on Lies", the jury was told. This as nothing.
Rishi Sunak had stolen almost $50 billion dollars from the people of the North in his speech. The promise of a ten billion dollar spend on potholes, evidence of myopia and misdirection, offering little comfort. No high speed rail, a ban on cigarettes, the promise of mathematics into the future the greater vision. For some it gets worse.
If you've been struggling to find Walkers Worcester Sauce crisps, there is bad news. Walkers confirmed the derivative has been scrapped. Walkers has not confirmed why the decision was made. Rumours are circulating of an intervention by Number ten. Fans have flocked to Twitter to lament the loss. One said: "Walkers sacking off Worcester sauce crisps is absolutely criminal, as if the damage hadn't been done enough by getting rid of beef and onion." The Tories are blaming Labour for that one. Yep that and the tax on meat.
The Saturday Economist
John Ashcroft publishes the Saturday Economist. Join the mailing list for updates on the UK and World Economy.
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